Grey market buyers get £50 per iPhone
Reports from Bloomberg suggest that many of the people waiting outside Apple Stores are grey marketeers acting on behalf of third parties, many of them abroad.
This has become a fact of life in Apple stores here in London. Every day there is a long queue of Asian and middle-eastern gentlemen clutching wads of £50 notes. Every time they get to the head of the line they buy two iPhones and now, presumably, two iPad 2s. Chatting to a couple of these grey marketeers earlier in the week, I discovered they get paid £50 for every iPhone they can get hold of. Most of these devices are on the first plane out of Heathrow.
I don't know whether this is a good thing or bad. While it's encouraging to see Apple products doing so well, I can't help think this professional buying is unfair to to the ordinary punter who just wants a phone or tablet for himself.